When Beyoncé made an appearance at Taylor Swift’s Eras Tour concert film premiere at Los Angeles’ The Grove AMC theater, it was more than a supportive sisterhood of pop megastars. Together, the two, who have each spent the last few months traveling the U.S. for their viral tours, represent a nearly $10 billion economic boost within the United States. Now, with screen versions of the concerts from both beloved singers hitting theaters (for, of course, a minute fraction of live stadium ticket prices), it’s music that is igniting theater sales amid a revenue downturn for the industry.
In a press release, AMC said it took less than 24 hours for Swift’s film to “shatter [the company’s] U.S. record for the highest ticket-sales revenue during a single day in [its] 103-year history,” exceeding over $100 million in advance ticket sales. Moreover, the three-day debut now accounts for the highest-grossing concert film ever, generating a total of $123.5 million and blowing the $73 million lifetime gross sales of Justin Bieber: Never Say Never (2011) out of the water.
Swift’s concert film is among the many music-entertainment efforts resurging the economy and ushering filmgoers back into the plushy seats of movie theaters. Where today’s audience craves the “now” moment to ward off FOMO, it’s clear that, in a world where there is no shortage of media for consumption, competitors have to generate a more tangible essence of hype for success, whether it’s trending on social media, or generating sales in other avenues.
Part of Swift’s movie magic lies in the ability for her four-year-old album track (“Cruel Summer”) to hit No. 1 on the present-day Billboard Hot 100. The same quality earned the star a celebratory mayorship in each city her tour stopped in, with, on any given day, a TikTok-dedicated search engine documenting DIY-themed outfits of the previous night’s performances, surprise announcements, celebrity sightings, and friendship bracelet exchanges.
In December, Beyonce’s Renaissance film is set to follow suit. Despite not being a chart-topper, “Energy,” over the course of the singer’s tour, became a cultural phenomenon that birthed the “Mute” challenge, taking on 56 city stops and millions of online reactions. In addition, fans showed off their iteration of the custom Alexander McQueen, Mugler, and Versace designs the 41-year-old wore on stage, amplifying what was already bound to be a heavily spotlighted event.
This summer’s Greta Gerwig-directed blockbuster, Barbie, excellently depicts how a strong social media presence brings people to theaters with aesthetically pleasing visuals and catchy music. Its soundtrack, Barbie The Album, skyrocketed to the top of Billboard’s Hot 200 Album Chart at No. 2 after 126,000 album-equivalent units in first-week sales, its tracklist including Top 10 hits from Dua Lipa (“Dance The Night”), Billie Eilish (“What Was I Made For”), and Nicki Minaj and Ice Spice (“Barbie World”). Combined with Airbnb’s Malibu Barbie Dream House collaboration exciting the likes of TikTok and Instagram, Barbie became Warner Bros.’s highest-grossing domestic release in history with $537 million, crossing the $1.4 billion threshold in the international box office.
Needless to say, movie ticket sales aren’t the sole variables accruing Swift’s and Beyonce’s $10 billion sum. Actually, Beyoncé’s Renaissance world tour garnered $579 million worldwide across 56 shows in 39 cities, and Swift is projected to gross $2.2 billion in North American ticket sales alone, according to August survey data from research firm QuestionPro provided to CNN exclusively.
Their grand-scale economic impact also spans from merchandise sold during shows (apparel, CDs, lightsticks, etc.) to even soaring hotel revenues thanks to traveling concert-goers, to which CNBC reports “[…] occupancy was 11% higher in Philadelphia during the nights of Swift’s tour, while revenue per available room was up 59% on average,” with similar outcomes in other cities such as Nashville. Then, it’d be remiss not to factor in the materials purchased for friendship bracelets and DIY-themed costumes to emulate Swift’s many music eras or wear silver-themed outfits to honor Beyonce’s Virgo-season request.
Although no ticket sale milestones have been released yet, Beyoncé’s Renaissance World Tour concert film, creating a “sanctuary for freedom and shared joy, for more than 2.7 million fans,” per the film’s description, is likely to see a success similar to Swift’s. Likewise, Lady Gaga subtly hinted at a concert film for 2022’s Chromatica Ball tour, yet withheld a release date.
The massive and instantaneous success of the Eras Tour concert film sets up a larger conversation around how we could utilize theaters together going forward, with music stars not only bringing audiences back to the big screens but also creating an experience you just can’t get at home.
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